Show THE OF CHURCHES valuable property owned by denominations in cities the marvelous business development of our large cities has brought a new element into the problem of the down town church such churches find that there are what emerson called compensations W while h 11 ie t they are often worried over the loss of income producing members they find themselves in the posses possession bIon of a valuable property and the question Is what to do with it within a year or two a number of these churches have had to determine their policy in the light of their opportunities as owners of valuable real estate the example of the broadway tabernacle Is still fresh in mind that church sold its corner comer for A more recent sale not quite eo so large in amount but involving an oven even more historic site was that of the park street church in boston which obtained in round numbers tor for its property the madison square presbyterian church obtains a site for its now church across tho the street from its present location and a bonus of the first presbyterian church of pittsburg haa has a valinte site down town in la the heart ot the business district it was offered a large sam of money for this site outright but preferred to accept in lieu of such a sale a I ground rent of a year on a lease for yeara years pica plus a cash bonus of Iso the second presbyterian clinich cf pittsburg has been offered for its present site and expects to get a full million dollars for it the proposition now Is in to add something like to this and with this sum erect on an adjacent site a structure which will include a secular and commercial feature as well as provide accommodations for a well organized church church economist |